Market To Open Gap Negative After North Korea Launched Another Missile Over Japan

Last Trading Session: Indian Stock Market opened positive. EquityPandit predicted that market is still in positive zone but would witness strong resistance near 10138 levels for Nifty. EquityPandit also predicted that Further profit booking would be seen in the market but traders can go long until 10020 holds for Nifty and exactly same happened. Finally, Indian Stock Market closed flat for the day. Sensex closed right at EquityPandit’s predicted resistance levels of 32240 levels like a dot. BankNifty also closed right below EquityPandit’s predicted resistance levels of 24920 levels.

Today: Indian Stock Market to open gap negative. Technically, Indian Stock Market is still in positive zone. North Korea launched another missile over Japan this morning and this would create pressure on Asian Market today. Indian Stock Market would see sharp profit booking over North Korean worries. Now 10024-10000 is important level to watch for Nifty. Market would enter into negative zone if it closes below 10024 levels for Nifty and 24697 levels for BankNifty. Traders can close any long positions if Nifty closes below 10024 levels. If Asian Markets closes flat for the day then the effect would be muted but until then traders should remain cautious. Further Long positions should be taken only if Nifty manages to breach 10138 levels.

FIIs are continuous sellers for the whole month in cash market. FIIs were net sellers of Rs.1334.23 crores whereas DIIs were net buyers of Rs.793.31 crores in cash market for last trading session. Nifty would see strong support at 10050-10020-9987-9965 whereas strong resistance would be seen at 10115-10138-10150-10200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (10087) The support for the Nifty is 10050-10020-9987-9965 and the resistance to the up move is at 10115-10138-10150-10200 levels.

NSE BankNifty: (24912) The support for BankNifty is at 24815-24737-24636-24500 and the resistance to the up move is at 24980-25032-25080-25180 levels.

BSE Sensex: (32242) The support for the Sensex is at 32082-32038-31950-31840 and the resistance to the up move is at 32350-32380-32450-32546 levels.

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